AQR Capital Management LLC Grows Stock Holdings in Freshworks Inc. $FRSH

Key Points

• AQR Capital Management LLC increased its stake in Freshworks Inc. by 110.3%, owning 415,585 shares worth approximately $5.86 million after acquiring an additional 217,978 shares.
• Multiple hedge funds have adjusted their holdings in Freshworks, with Ameriprise Financial Inc. and Ensign Peak Advisors Inc. increasing their positions by 34.9% and 81.6% respectively.
• Freshworks reported a 19.6% year-over-year increase in revenue for the last quarter, achieving $204.68 million and earnings per share of $0.18, exceeding analysts' expectations.

AQR Capital Management LLC raised its position in Freshworks Inc. (NASDAQ:FRSH - Free Report) by 110.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,585 shares of the company's stock after acquiring an additional 217,978 shares during the quarter. AQR Capital Management LLC owned approximately 0.14% of Freshworks worth $5,864,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FRSH. Ameriprise Financial Inc. increased its position in shares of Freshworks by 34.9% in the fourth quarter. Ameriprise Financial Inc. now owns 369,370 shares of the company's stock valued at $5,973,000 after acquiring an additional 95,463 shares during the period. Cetera Investment Advisers purchased a new position in shares of Freshworks in the fourth quarter valued at about $190,000. Deutsche Bank AG increased its position in shares of Freshworks by 15.8% in the fourth quarter. Deutsche Bank AG now owns 513,810 shares of the company's stock valued at $8,308,000 after acquiring an additional 70,001 shares during the period. Ensign Peak Advisors Inc increased its position in shares of Freshworks by 81.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 108,972 shares of the company's stock valued at $1,762,000 after acquiring an additional 48,950 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Freshworks in the fourth quarter valued at about $167,000. Hedge funds and other institutional investors own 75.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FRSH shares. Piper Sandler boosted their price objective on shares of Freshworks from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Needham & Company LLC reiterated a "buy" rating and set a $25.00 price target on shares of Freshworks in a research report on Friday. Morgan Stanley reduced their price target on shares of Freshworks from $18.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday. Cantor Fitzgerald upgraded shares of Freshworks to an "overweight" rating and set a $20.00 price target on the stock in a research report on Tuesday, June 3rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $27.00 price target on shares of Freshworks in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.14.

Freshworks Stock Performance

Shares of FRSH opened at $12.45 on Friday. The stock has a market cap of $3.63 billion, a PE ratio of -69.16 and a beta of 0.94. Freshworks Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $19.77. The firm's 50-day simple moving average is $13.57 and its two-hundred day simple moving average is $14.31.

Freshworks (NASDAQ:FRSH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. The business had revenue of $204.68 million for the quarter, compared to analysts' expectations of $198.85 million. Freshworks had a negative net margin of 7.02% and a negative return on equity of 2.56%. The business's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Freshworks has set its FY 2025 guidance at 0.560-0.580 EPS. Q3 2025 guidance at 0.120-0.140 EPS. Equities research analysts predict that Freshworks Inc. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other Freshworks news, insider Mika Yamamoto sold 4,289 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $13.18, for a total value of $56,529.02. Following the sale, the insider owned 533,993 shares in the company, valued at approximately $7,038,027.74. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barry L. Padgett sold 7,558 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $15.14, for a total transaction of $114,428.12. Following the completion of the sale, the director owned 32,635 shares in the company, valued at approximately $494,093.90. This trade represents a 18.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,181 shares of company stock valued at $1,107,538. Insiders own 11.17% of the company's stock.

About Freshworks

Freshworks Inc, a software development company, provides software-as-a-service products worldwide. It offers Freshworks Customer Service Suite, which provides automated, personalized self-service on various channels, including web, chat, mobile messaging, email, and social; Freshdesk, a ticketing-centric customer service solution; Freshsuccess, a customer success solution; and Freshchat that provides agents with a modern conversational experience to proactively engage customers across digital messaging channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.